UAE chief executives view disruption as growth catalyst

Chief executives in the UAE see disruptions in their industries as a major catalyst for growth and are harnessing change to drive their business strategies, a survey by the accounting firm KPMG has found.

“UAE CEOs are among some of the most dynamic in the world and it is very clear that while they face new challenges and uncertainties, they remain determined to drive growth,” said Vijay Malhotra, the chairman and chief executive of KPMG in the UAE and Oman.

“Despite lower oil prices, a new tax regime and geopolitical issues, the optimism shown by CEOs reflects a growing maturity and confidence in CEOs and their organisations’ ability to adjust to a new reality and develop other nonoil driven sources of business.”

The survey found that 64 per cent of CEOs in the UAE expect disruption in their sectors in the coming three years and 88 per cent believe that there will be growth in their own industry over the next three years.

“It is evident that CEOs are convinced of their abilities to move their organisations to bigger and better places,” said Vikas Papriwal, the head of markets at KPMG in the UAE and Oman.